Thursday, April 15, 2010

Nifty future had witnessed the selling pressure today and also made the closing below 5300 level. The next support for the Nifty future seems to be at the support zone of 5245 to 5250. Closing below this level may further decline the prices and could slip the nifty future till the lower levels of 5150 to 5155 in short term. I recommend that traders need to watch out these strategies for tomorrow trading session. If Nifty future breaks the level of 5250 so they could initiate the shorts in nifty future with the stop loss of 5300 for the target of 5150 to 5155, and if holding the support levels of 5250 and made the recovery from that level so traders could initiate long in nifty future above 5300 for the target of 5375 to 5380 with stop loss of 5260.

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